Archive for the ‘C.O.A.T. – Riots’ category


September 24, 2008

This post is a Sticky. It will remain here until the alleged bailout by Congress has been approved.

Update, Friday October 3, 2008:

For new posts, scroll down to the next one.

I’ve seen posts elsewhere by people stating they’d rather see the collapse of the entire economic system instead of having the current alleged bailout go through. They believe they could live through the consequences of that.

They are so wrong.

Get Depression 1.0 out of your head right now.

We are not that people. We are not that population.

A collapse on the scale we are in danger of right now is unprecedented in all of human history. There is absolutely nothing else to compare it to. This is a strange land we have never before visited.

I’m going to take you through a tour of this possible future. I intend to scare the living shit out of you in doing so. I do it not of out some perverse glee. I do it to try to wake all of you up to the very real and probable calamity ahead.



Chronicles Of Depression 2.0: #134

June 23, 2008

UPDATE: Order restored on Vliet St.

Milwaukee police said they have restored order but will remain outside of the Marcia P. Coggs Human Services Center after a crowd awaiting free food vouchers became unruly this morning.


Police responded to the building about 7 a.m. after 2,500 people lined up on the sidewalk and eventually began to block traffic in the street. A number of people had rushed the door, and some people became caught in the crush; however, there were no serious injuries, according to Schwartz.


“We want to make sure people stay here in an orderly fashion so they can get what they came to get,” she said. “We’re still trying to figure out why so many people showed up.”

Emphasis added by me.

That spokesperson must be a techmemer. In techemeland, everything is wunnerful, wunnerful, and everyone dreams of being The Next Arrington.

While out here in The Real Fucking World, war is coming.

Chronicles Of Depression 2.0: #020

April 8, 2008

With everything that’s happening, I should think about a new Category: The End Of The Whole Frikkin World.

Three items in one post:

Oil: Oil prices approach record heights

Rice: Rice Jumps to Record on Philippine Imports, Curbs on Exports

April 8 (Bloomberg) — Rice climbed to a record for a fourth day as the Philippines, the biggest importer, announced plans to buy 1 million tons and some of the world’s largest exporters cut sales to ensure they can feed their own people.

Rice, the staple food for half the world, gained 2.4 percent to $21.50 per 100 pounds in Chicago, double the price a year ago. Philippine President Gloria Arroyo announced two rice tenders today and pledged to crack down on hoarding. Anyone found guilty of “stealing rice from the people” will be jailed, she said.

“We’re in for a tough time,” Roland Jansen, chief executive officer of Pfaffikon, Switzerland-based Mother Earth Investments AG, said in an interview with Bloomberg Television from Zurich today. Unless prices decline “you will have huge problems of daily nutrition for half the planet.” Mother Earth holds about 4 percent of its $100 million funds in the grain.

Emphasis added by me.


Soaring prices could lead to increased unrest, such as in Haiti recently, the United Nations said in a report yesterday.

Four people died in two days of rioting last week over food prices in Haiti, the western hemisphere’s poorest country, the organization said on its Web site.

“What we see in Haiti is what we’re seeing in many of our operations around the world — rising prices that mean less food for the hungry,” the report said, citing the United Nations World Food Program’s executive director Josette Sheeran.

Burkina Faso, Cameroon, Egypt, Indonesia, Ivory Coast, Mauritania, Mozambique and Senegal have also experienced unrest in the last several weeks related to food and fuel prices, according to the report.

Emphasis added by me.

Finance: Citigroup, Wells Fargo May Loan Less After Downgrades (Update1)

April 8 (Bloomberg) — Bank holding companies including Citigroup Inc., Bank of America Corp. and Wells Fargo & Co. have the thinnest safety cushion against losses in seven years.

The margin may erode further in coming weeks. Credit ratings on $704 billion of bonds have been cut this year following the collapse of the U.S. housing market. Sheila Bair, chairman of the Federal Deposit Insurance Corp., said last week that the downgrades may compromise bank capital ratios enough that some of the largest institutions will no longer be considered well capitalized.

Falling below a regulatory benchmark that is intended to maintain a minimum level of capital to protect depositors against losses would subject banks to more scrutiny from regulators than they have ever experienced.

“This is a nightmare for the country,” said William Isaac, who was chairman of the FDIC from 1981 to 1985. Banks will “raise what capital they can, then they’ll slow down their growth and stop lending, and what should be a mild recession becomes a much more serious one.”

The biggest danger to the economy is that to preserve their ratios, banks will cut off the flow of credit, causing a decline in loans to companies and consumers. Banks have already raised $136 billion in capital, based on data compiled by Bloomberg, and cut dividends. More stock sales and payout reductions are likely to follow, says analyst Meredith Whitney at Oppenheimer & Co.

Emphasis added by me.

The FDIC’s Bair said last week that ratings changes will probably lower bank capital ratios for some U.S. banks.

“It’s a big concern,” Bair said in an interview April 3. “We are dealing with an unprecedented situation.”

‘When Tide Goes Out’

How much commercial banks have already cut back on lending will be known in mid-April when most report earnings.

“All I know is the first-quarter reports are going to be pretty bad, and there’s a lot more to come,” said L. William Seidman, who was chairman of the FDIC from 1985 to 1991. “Our experience was that if the economy got in trouble, it took at least a year for the banks to get into trouble.”

Emphasis added by me.

Does it sink it yet? What I’ve emphasized are quotes from otherwise cautious, even somber, people: financial specialists. They are not given to panic-inducing statements.

Unless things are even worse than everyone is letting on.

Chronicles Of Depression 2.0: #018

April 5, 2008

Rice jumps as Africa joins race for supplies

Rice prices rose more than 10 per cent on Friday to a fresh all-time high as African countries joined south-east Asian importers in the race to head off social unrest by securing supplies from the handful of exporters still selling the grain in the international market.

The rise in prices – 50 per cent in two weeks – threatens upheaval and has resulted in riots and soldiers overseeing supplies in some emerging countries, where the grain is a staple food for about 3bn people.

The increase also risks stoking further inflation in emerging countries, which have been suffering the impact of record oil prices and the rise in price of other agricultural commodities – including wheat, maize and vegetable oil – in the last year.

Kamal Nath, India’s trade minister, said the government would crack down on hoarding of essential commodities to keep a lid on food prices. “We will not hesitate to take the strongest possible measures, including using some of the legal provisions that we have against hoarding,’’ he said on Friday.

Thai medium-quality rice, a global benchmark, traded at about $850 a tonne on Friday, up from $760 a tonne last week, while the price of less representative top-quality aromatic rice broke the $1,000-a-tonne level for the first time, traders said. They added that the grain was being sold to African destinations.

In Chicago, US rice futures hit an all-time high of $20.45 per 100 pounds.

Emphasis added by me.

We tend to concentrate on ourselves when it comes to food prices.

But what’s happening in the rest of the world with rice is urgent and important. Rice is a daily food staple for most of the world. We don’t see it as essential, but we’re outnumbered in that opinion.

The unrest that will take place in the rest of the world is just a prelude to what can happen here.

Red Headlines For March 29, 2008

March 29, 2008

Oh, it’s getting worse.


Treasury Dept. Plan Would Give Fed Wide New Power

WASHINGTON — The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system.

The proposal is part of a sweeping blueprint to overhaul the nation’s hodgepodge of financial regulatory agencies, which many experts say failed to recognize rampant excesses in mortgage lending until after they set off what is now the worst financial calamity in decades.

Democratic lawmakers are all but certain to say the proposal does not go far enough in restricting the kinds of practices that caused the financial crisis. Many of the proposals, like those that would consolidate regulatory agencies, have nothing to do with the turmoil in financial markets. And some of the proposals could actually reduce regulation.

According to a summary provided by the administration, the plan would consolidate an alphabet soup of banking and securities regulators into a powerful trio of overseers responsible for everything from banks and brokerage firms to hedge funds and private equity firms.

While the plan could expose Wall Street investment banks and hedge funds to greater scrutiny, it carefully avoids a call for tighter regulation.

Emphasis added by me.

So then, pardon the rude question, what the fuck is the point?

Oh, here we go:

The plan would not rein in practices that have been linked to the housing and mortgage crisis, like packaging risky subprime mortgages into securities carrying the highest ratings.

The plan would give the Fed some authority over Wall Street firms, but only when an investment bank’s practices threatened the entire financial system.

Emphasis added by me.

In other words, it’s our money being used to save the fat asses of the greedmeisters!

Who are:

There we go! Their icon!

Remember that movie? He was a fraud and a thief!

Just like his real-life counterparts who bray about the “free market” — yet the first time it nibbles on their ankles and causes them to stumble, they scream for a Federal Bailout because “we’re too big to fail!”


Let them fail. Why should they get help when families are being kicked out of millions of homes across this nation? Homes they were enticed into by the greedmeisters at the lowest level of this stinking, corrupt pyramid scheme that went unchecked for the past decade!

If this isn’t another reason for a revolution in November, I don’t know what the hell is!

Next item:

High Rice Cost Creating Fears of Asia Unrest

HANOI — Rising prices and a growing fear of scarcity have prompted some of the world’s largest rice producers to announce drastic limits on the amount of rice they export.

The price of rice, a staple in the diets of nearly half the world’s population, has almost doubled on international markets in the last three months. That has pinched the budgets of millions of poor Asians and raised fears of civil unrest.

Shortages and high prices for all kinds of food have caused tensions and even violence around the world in recent months. Since January, thousands of troops have been deployed in Pakistan to guard trucks carrying wheat and flour. Protests have erupted in Indonesia over soybean shortages, and China has put price controls on cooking oil, grain, meat, milk and eggs.

Food riots have erupted in recent months in Guinea, Mauritania, Mexico, Morocco, Senegal, Uzbekistan and Yemen. But the moves by rice-exporting nations over the last two days — meant to ensure scarce supplies will meet domestic needs — drove prices on the world market even higher this week.

This has fed the insecurity of rice-importing nations, already increasingly desperate to secure supplies. On Tuesday, President Gloria Macapagal Arroyo of the Philippines, afraid of increasing rice scarcity, ordered government investigators to track down hoarders.

Emphasis added by me.

Everything is coming to a head all at once.

Inflation, greed-inspired fraud, governmental favoritism for the greedmeisters, soaring oil prices, falling American dollar value, and now food is rapidly coming into focus.

And this is still the introduction; the credits rolling over the theme music. Act One hasn’t yet begun.

I asked a question here. That question is still valid.